This week’s theme on the Retirement Quick Tips Podcast is: Change Your Bad Money Habits With 5 Simple Tweaks

Today, I’m talking about how to Make Bad Habits Harder

We rely on habits because our brain needs to devote energy to new and difficult tasks, not brushing our teeth or remembering how to get to work each day. We are also incredibly lazy, and we can use laziness to our advantage when trying to break a bad money habit.

• Example: This isn’t a bad money habit, but it’s a good example. Let’s say you watch too much TV and you want to stop or reduce how much you watch TV. Unplug your TV - creates a barrier to overcome before indulging in the habit. I don’t know about you, but often it’s that little bit of effort that I need to do something or get started on something that keeps me from doing it at all. You can use the same thing 

• Turning to money habits, let’s say you shop too much online on your phone. If you’re like me, you use Amazon nearly every day. If overspending is a problem and you routinely shop and buy things on your smart phone, then remove all shopping apps from your phone. This way, when you want to buy something on Amazon or wherever, you need to do it on your computer instead. It’s a small change, but you’d be surprised how much it can reduce overspending by just having a small barrier to following through with the bad habit we want to break.

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.  

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance